The first ever public tender for Australian pink diamonds is set to go live next month.

In total the set of five stones, from the famous Argyle Diamond Mine, are expected to bring in a haul of over $1 million (£720,000).

The pink diamonds range in size from 0.4ct to 1.01ct will be sold by Australian technology startup Yourdiamonds.com.

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Founder Tim Goodman, a former executive chairman of Sotheby’s Australia, has been asked to sell the diamonds by a finance corporation as mortgagee in possession.

The Argyle Mine closed in November 2020 after 40 years of producing 90% of the world’s pink diamonds.

The public tender will run from 21 June to 1 July while bids will be opened at 10am in Sydney on Friday 2 July.

Tim Goodman, yourdiamonds.com CEO, said: “We are creating a secondary market. The primary market is strong and the timing is perfect for sellers.

“Subject to the success of this first project we intend to conduct a public tender of Australian pink diamonds twice a year.

“We may extend the scope to include diamonds of other colours originally sourced from the Argyle Mine.”

Yourdiamonds.com CEO Tim Goodman